As you know, loss prevention is so much more involved than just locking up high-value items or installing security cameras throughout the store. It’s also about understanding the nuanced patterns of behavior that precede theft, and this is where Veesion is making a tangible impact.
Veesion, a trailblazer since 2018, is leading the charge in transforming retail security through its state-of-the-art video deep learning technology. They use AI-powered technologies to redefine what it means to secure businesses against losses and we are proud to partner with them as part of our retail technology services.
Shoplifting is on the rise
According to CBS News, shoplifting rose 24% in the first half of 2024, while every other type of crime dropped. With shoplifting rates increasing so dramatically, grocery store owners need to equip themselves with tools that will keep them one step ahead of the game.
But these losses go beyond just the immediate financial hit; they erode profit margins, impact customer experience, and they can even tarnish a brand’s reputation. Traditional methods of loss prevention are becoming less effective against sophisticated theft techniques, not to mention the growing issue of internal theft (which currently accounts for around a quarter of all retail theft).
A real-time solution for a real-world problem
What sets Veesion apart—and why we chose to partner with them—is their ability to offer real-time detection of suspicious activities. This isn’t just about catching a theft as it happens; the system can alert staff immediately, allowing for swift action that can actually prevent the theft altogether. It can even detect theft in scenarios like self-checkout and gesture recognition.
A common challenge with some security systems is the high rate of false positives, leading to unnecessary checks that waste time and could embarrass innocent customers. Veesion’s artificial intelligence tool is sophisticated enough to dramatically lower the rate of false positives. This precision not only saves time but also helps maintain a positive shopping environment, bolstering customer trust.
Veesion’s technology goes beyond just preventing theft; it’s also about streamlining operational efficiencies. By integrating with existing security cameras and systems, it minimizes the need for additional hardware investments. Its intuitive dashboard and reporting tools provide actionable insights, allowing business owners and managers to make informed decisions that can further reduce losses and enhance profitability.
A more sustainable approach to theft
In today’s competitive retail landscape, sustainability isn’t just about environmental impact; it’s also about building business models that can sustain challenges and evolve. Veesion helps businesses adopt a more sustainable approach to loss prevention, reducing the need for extensive security measures and allowing for more open and inviting shopping spaces that encourage positive customer experiences.
For us, choosing to partner with Veesion was about so much more than just selecting a loss prevention service; we wanted to partner with a company that’s genuinely invested in the growth and success of its clients. Veesion views its service as a collaborative effort to protect and enhance business operations, offering ongoing support and updates to ensure its partners are always at the cutting edge of loss prevention technology.
In a world where retail losses can make or break a business, having a robust, intelligent solution is essential. The future is here, and it’s powered by artificial intelligence! Veesion’s AI-powered loss prevention technology will revolutionize how grocery retailers protect their assets, staff, and customers and we are so thrilled to be able to support store owners in this way.
Making the correct technology decisions can be a complicated and time-consuming process. UNFI has over 30 years of experience in grocery technology and is a partner and staunch advocate for the independent grocer. To learn more about all of our professional services, visit our website!